Plans for a Ramada Inn on the Orange County Fairgrounds have been delayed after developers decided to scale back their plans in response to studies indicating a saturated hotel market in the county.
Officials of the development firm, TN Properties of Scottsdale, Ariz., said they had been unable to begin obtaining financing for the project because of the time involved in redesigning the plans. The firm was to have obtained financing for the $11.8-million hotel by Dec. 31, 1985.
The 215-room hotel will now be built in two stages, TN general partner Gordon Marks said Wednesday. He said he expects to begin seeking financing for the first, 155-room phase within a month. The Orange County Fair's board of directors approved a contract extension for the firm until Sept. 1 to obtain the financial backing. Completion of the first phase is anticipated by July, 1987.
"We would like to have it open in time for the fair (held annually in July) next year," Marks said. He said having the hotel on the fairgrounds, where it would attract fairgoers as well as people attending conventions and other events, such as concerts at the Pacific Amphitheatre, is a "significant factor" in ensuring its success.